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Shows how just four simple principles you learned in grade school can be used to manage the most critical money milestones in your life.
A Whole New Way to Look at Your Money...and Make It Grow!
“Here is a lively new guide that offers fresh and actionable ways to approach everyday financial problems. Whether you’re rich or just getting by, starting your career or winding down, you’ll benefit from the author’s insightful observations and suggestions—all delivered with warmth and wit.”
—Evan Cooper, Deputy Editor, InvestmentNews
“The author’s unique gift is to make complex ideas from the world of high finance simple to understand, and his new book gently coaches readers in how to think about their personal finances. Best of all, readers can use Milevsky’s financial calculators online to test these ideas, so they can make choices with confidence. Investing in this book might be the wisest financial decision you make this year.”
—Gil Weinreich, Editor, Research Magazine
“The author has accomplished the near impossible. He has made the complicated, confusing, and often contradictory world of personal financial planning easy to understand. More importantly, he’s made it easy to act on his ground-breaking advice and guidance and has made it easy for readers to address their most important financial decisions in a thoughtful, practical, and painless manner.”
— Robert Powell, Editor, Retirement Weekly and Retirement Columnist, www.MarketWatch.com/retirement
“What are the nine crucial financial decisions every person must make over the course of a lifetime? If you don’t know, read this book. The author’s nine choices revolve around his core concept of human capital and how it must be gradually converted to financial capital to achieve a successful retirement.”
—Jonathan Chevreau, National Post Columnist and Author of Findependence Day
“Your Money Milestones helps just about anyone see life’s most important money decisions in a fresh and completely rational light. If you want a smart, practical roadmap to a financially sound future, you need this book.”
—Eric Schurenberg, Editor-in-Chief, BNET
Your Money Milestones illustrates how four principles inspired by basic arithmetic can be applied to manage the most important financial decisions (money milestones) people face over their entire financial lifecycles.
Acknowledgments xv
About the Author xvii
Prologue: Financial Deicide xix
Introduction: Human Capital: Your Greatest Asset 1
Chapter 1: Is the Long-Term Value of an Education Worth the Short-Term Cost? 13
Chapter 2: What Is the Point of Saving Money Forever? 35
Chapter 3: How Much Debt Is Too Much and How Much Is Too Little? 53
Chapter 4: Are Kids Investments and Can Marriages Diversify? 69
Chapter 5: Government Tax Authorities: Partners, Adversaries, or Bazaar Merchants? 85
Chapter 6: Can You Eat Your House or Will It Ever Pay Dividends? 101
Chapter 7: Insurance Salesmen and Warranty Peddlers: Are They Smooth Enough? 113
Chapter 8: Portfolio Construction: What Asset Class Do You Belong To? 129
Chapter 9: Retirement: When Is It Time to Shutter the Well and Close the Mine? 147
Conclusion: Four Principles to Guide All Financial Decisions and Money Milestones 169
References 177
Index 185